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this big impact on these shares here at the nasdaq. >> jon fortt i'm sure is digging into the whys of this. i just walking downstairs here am not sure whether this is a classic case of sort of a fat finger, somebody hit the button on the release with because one of the releases that i'm looking at here has a block in there saying pending larry quote. larry page, of course, the c.o.o. of that company. maybe this release was let go and freed out to the public simply by mistake. that's my speculation, not based on anything authoritative that i have heard. revenues were higher than a year ago at $14.1 billion. that's up about 45%, compared with the third quarter of 2011. but the net income numbers were certainly lower. 2.18 billion compared to 2.73 billion. on an eps basis, it was $6.53 compared with $8.33 in the third quarter of 2011. the non-gap numbers -- 903 compared to 972 in the third quarter of 2011. on both gap and non-gap, clearly a decline in earnings, in profit there and that is reflected in what you see in the stock, halted now at $678.30. sue? >> indeed, ty, we're going to continu
. yesterday not a very good day for apple. tech reporter jon fortt back from the apple event out in san jose. he's here at global headquarters. let's first talk -- jon, welcome. you must have had a long red eye flight. but at any rate, talk about the pricing. was it a surprise that it was as high as it is? >> surprised some people. $325. they want 1ded $1.99. i did a piece saying no way they'd sell this below $300. but i don't think that's necessarily a problem. we'll see. because apple's been beating the other tablets at $199 with a $500 -- $400 ipad already on volume. now they've got a cheaper one, it fills out their lineup. they might just continue to beat them -- >> they can come in at $329 and see how it goes. it may do fine. it is easier than to cut the price back down and it would be to start at $299 and say, wait a minute, let's take it up to $349. we've now had 2, maybe 2 1/2 product announcements under tim cook. i got sense that yesterday's -- the stock market wasn't all that favorable. compare the last couple of product announcements under come with comparable product announcement
by 2%. jon fortt is in silicon valley and he's on the invite list and the big question is a mini ipad coming, jon? >> yeah, that's exactly what i'm expecting. a couple of key questions with this announcement. what other surprises might apple have. and, two, how much should a mini ipad cost. first there have been rumors for a little more than a month that apple is about to update the imac line with new designs and maybe another laptop with a high resolution receitina display. timing makes sense because apple whether be trying to steal thunder from microsoft windows 8 launch. on the ipad mini itself, we're basically expect an 8 $200 and . this has the ability to shake up the market. consider analysts say every five tab lets that sell cannibalize two pc sales. this is apple saying we think we figured out how to sell more tablets and own this market. >> jon fortt, thank you so much. we have a big rally on our hands. the dow at the high of the day. up 124 points. almost a full percent. we are now less than 600 points from a new all-time high. transports confirming that. we're up better
the story as we look at apple trading at $598.40. jon fortt has been in studio with us all week. you think that perhaps the street is misreading this a little bit. things aren't exactly the way they appear. >> i think as people have taken some time to look deeper into the numbers, listen to apple's commentary last night, a few things are standing out. one, the iphone number, really not that bad based on what some people had been expecting. the older iphones continue to sell pretty well. iphone 4s and 4. then you've got the fact that the ipod and ipad refresh really caused apple to have to make a lot of adjustments. if you look at property plant and equipment in apple's report, what they spent on that doubled year over year. you consider -- i mean that's a big expense. apple's story about why margins are coming down, i think some of the apple bulls at least have latched on to that heading into next quarter. plus the fact that apple forecasted $52 billion in sales for the holiday quarter. not all bad. the question is, this ipad mini, how well will it sell. if that looks big, people might sta
with with the deputy managing editor at "wall street journal," and and our jon fortt. welcome to you both. start with the pivot of the company, spencer, to one that sounds more like apple, the idea being services integrated with software, integrated with devices. is it too late for them to do this. >> well, it's not clear if it is too late but it is definitely something they need to do. it is not just microsoft but there is a larger trend in the technology industry right now toward a vertical intergra inte. apple has shown if you combine hardware and software in an elegantly designed device, it can create a great customer experience. now others were making it more of an official strategy that, question, the future is in combining services and hardware. steve ballmer said the future of the company, yes, in some cases they'll be making actual physical hardware, not just the xbox but tablets and maybe even smartphones. >> to that point, jon fortt, the surface is the tablet on which i guess they have high hopes. when is it out and what are the possibilities here? it's a crowded marketplace. >> tyler
this showdown very closely with china. tech correspondent jon fortt in silicon valley looking at which companies stand to win and lose in all this. >> bob, the biggest, most obvious winner here is cisco because that's huawei's arch enemy in the networking space. cisco has accused them of stealing its source code and they've called out huawei as cisco's largest challenger. buyers and sellers themselves aren't an immediate win. public sector purchasing has been suffering and huawei didn't have a lot of share in the u.s. to begin with. but companies that do business with the government might back away from considering huawei. they're the number two telecom maker in the world so this might help cisco gain some share in other markets where governments could be influenced by the u.s. move. could also help erickson, the number one telecom commitment supplier. juniper has set up demo labs to try to push the brand. the key is what happens in europe. u.s. is just 4% of huawei's business. europe is more like 14%. that's where u.s. companies will look to gain an advantage. >> jon, china is also key to anoth
practical tore and gamble. jon moeller will talk to us first at 7:00 a.m. and we will talk about fixing the debt, rising would have the fiscal cliff with honeywell coe david cote and our guest host robert johnson at 7:15 a.m. this is huge. about 80 ceos have signed on to this and we'll talk a lot about it today. all that plus a rock star who can't drive 55 when it comes to business. sammy ha sgchlt ar gar talks ab listening to his gut and he has made more money in a business. he's a genius. right now, more of andrew's top stories. >> i'm looking forward to seeing that interview. we have new news on apple. a judge ruling that samsung infringing on four apple pat te ents. and best buy is shaking up its management ranks. saying head of its u.s. business will be leaving in february and its chief administrative officer at the end of the month. best buy warning its third quarter results will fall women well short of forecasts. shares coming under pressure in after hours trading. and former goldman sachs director gupta has been sentenced for two years for insider trading. gupta has been hit wi
heard jon fortt talking about google reporting earnings early. i was thinking it's the middle of the day. i started to listen. it's addictive. the markets are addictive. >> you've got to live it, you've got to love it. >> she is living it and loving it. >> see you tonight. we'll talk europe in about 30 minutes. >>> if you're just joining us, here's what you missed earlier this morning. >> welcome to hour three of "squawk on the street." here's what's happening so far. >> the only way you solve this thing is with tax increases and spending cuts. you have to do both. anybody whoever says no, you can just grow your way out of this, just raise the top two brackets, just cut spending, baloney. >> we weren't going to let any branch of innovation go uncovered. so with the microsoft surface, we ventured out to do an innovative new design for tablet, pc. >> i like the product that has not usually mattered with microsoft if the product's good. this new iteration, look, i think it's -- you don't buy the stock. you got to see whether it sells well. i'd love to be able to say, listen, this is going t
daily show's" jon stewart and he says the four deaths were "not optimal." not optimal. you heard that right. that, mr. president, is a cold and heartless statement. it is unbecoming for the commander in chief. we're going to give you the full story up next on "kudlow." later on, romney eviscerates obamanomics in this week's past debate, but all anyone talks about is big bird and binders for women. we are going to debate america's economic future with obama's former top economic adviser austan goolsbee. and don't forget, free market capitalism is the best path to prosperity. it looks like mitt romney is on that path. we'll see if he stays there. >> of course we're down to the final months of the president's term. as presidents -- [ laughter ] [ cheers and applause ] as president obama surveys the waldorf banquet room with everyone in white tie and finery, you have to wonder what he's thinking. so little time. so much to redistribute. mike rowe here at a ford tell me fiona, who's having a big tire event? your ford dealer. who has 11 major brands to choose from? your ford dealer. wh
released today. there is a lot riding on this for the company and for the ceo, steve ballmer. jon fortt sat down with him first on cnbc. joins us in the studio with a new toy, the surface tablet. tell us about mr. ballmer first. >> we'll play with this a bit after, tyler. steve and i covered a lot. steve ballmer. one of the things we talked about was the competition. microsoft's flat chip new windows device, surface tablet, sells for $499. amazon and barnes & noble are all selling tablets for around $200. none of them is making any money on the hardware, all hoping to make it up later through the sales of books, music, movies, other merchandise. i asked him what he thinks of the zero margin hardware game. listen. >> it is anybody's game. don't think even amazon can play that game for the long term. everybody wants to make some money. >> that's why the surface is $499. he doesn't think the kindle fire's model has much of a future. tablets are an incredibly important part of the windows 8 story though. here's why. this os works with a mouse and keyboard but it is really built for touch. if yo
%. ceo meg whitman meeting with animal listings right now. the stock is trading at $15.91. jon fortt is in silicon valley. >> reporter: hp shares in free fall today as ceo meg whitman sets the ball even lower than wall street spenexpected saying fiscal 2013 earnings will be between $3.40 and $3.60 per share, versus expectations of $4.05. she says the turnaround will take four or five years an when she arrived, hp was broken at almost every level. a wrong product, an organization that wasn't targeting customers by country and a lack of specific measurable area. hp business executives are going to be addressing analysts. whitman says profits will erode across practically every segment. the pc and printing group will talk a bit about tablets but mostly about cutting back on the different models they are producing and moving certain ink sales to subscription model. >>> david faber has an exclusive with hp's ceo meg whitman tomorrow on "squawk on the street." one very important interview that you don't want to miss and it is only on cnbc. >>> earlier this week when we had art cashin on wi
years ago. jon fortt joins us live with more on what is clearly an innovative company, jon. over to you. >> thank you, simon. here with aaron levy, ceo of box. you did announcements out there. we have seen oracle sales force, others, coming out talking about owning the cloud. you have got your own vision, raised $287 million to do it. what did you announce today? >> so, we announced a brand new technology that allows you to take box, thus take your content and information you have in your business and extend it to a whole bunch of other applications you can work from. so, concur, cornerstone, net suite, jive, a punch of public sass and cloud companies, even oracle fusion, crm, take your content anywhere in those applications. >> given their the provocateur now, taken marc benioff's face, sticking your finger in the eye of microsoft. >> no. no. >> partnering with you here, 287 small lot of money, they have got more than that. >> we think as a startup, we have an unfair advantage. we focus on a new kind of business model, a free product that allows people to bring the technology into the
on google and microsoft today after a tough earnings day for that twosome yesterday. before we get to jon fortt to sort it out for us and the downfall of the spiraling, julia boorstin is looking at the achilles heel laid bare in google's earnings report. has anybody figured out mobile? >> it's worth pointing out that despite the fact that the shift in mobile is hurting google's revenue, when it comes to mobile ads, google is making much more money than anyone else. e marketer estimates google will generate $1.4 billion in net mobile ad revenue. that's much more than any of the other rivals. look at that full screen there. google is projected to grow that mobile ad revenue by another $1 billion next year. google is well positioned when it comes to mobile ads because it does 95% of all mobile search. that's a big opportunity. the issue is pricing, because mobile search ads are less valuable. people are less likely to make big purchases, whether it is for an airplane flight or a hotel room, when they're on their smartphones. another good player here in the mobile ad space is pandora. that's
. our tech reporter jon fortt in silicon valley with two very different business models for the tablets. jon? >> tyler, this october 23rd date for apple is interesting for a couple reasons. one, it is two days before apple earnings which will make it interesting for the stock. apple will have to include ipad mini in its fiscal q1 guidance possibly before pre-orders of the device have even started. gross margin guidance will be important with two high-volume laurnl launches under way. i'm told the apple mini will start shipping in november, couple weeks amazon launches the new, improved kindle fire. let's talk business models. of the kindle fire hd unveil, they're not making money on hardware. they make it when people use the device. they said apple's model of getting big margins on hardware puts them at odds with the consumer because they always try to pull you back to upgrade. here's the catch -- amazon also puts ads on its envy level devices because they say they're not a device, they're a service. that's not something you can imagine apple doing. you can kind of ding either company e
are listening. there was a piece today. jon corzine, page 6 points that jon corzine had dinner on saturday night at elmilino where you can get a bowl of pasta for $89. he was there having dinner with with alan grubman, entertainment lawyer and taxi magnate. rick, if you want to know where jon corzine is, and i know a lot in chicago want to know, having dinner at the new restaurant upper east side manhattan on saturday night. >> gary, of course, i believe in freedom, and obviously, he hasn't been charged with anything. he can go spend $1,000 apiece for a strand of spaghetti. i don't care, and i wish most americans could afford a thousand dollar strand of spaghetti. i bet when he closes his eyes at night to go to sleep, i don't think he has happy thoughts. you know, whether the legality catches up with him, whether the politics release him to the legalities, because i think it's all about politics, but in the end, you know what? you and i sleep well at night. i doubt if he does. there's so retribution on that level. >> well said, rick. by the way, let's get a tuesday edition of santelli exchange.
to be a smaller version of the ipad, call it the ipad mini. we go to jon fortt in silicon valley for more on today's main event. >> reporter: right behind me is where the action will take place. we're expecting a mini ipad. apple hasn't said exactly what this is. what would be the big deal over a smaller ipad? this would be the biggest new product announcement in about almost the past three years. not in the sense that it's bigger revenue wise, probably than an iphone but in terms of a new design and a risk apple is taking, a smaller ipad would be part of that. steve jobs said he wasn't in favor of such a thing at seven inches. of course we expect this could be closer to eight inches than seven based on a lot of the buzz out there. we have to wait and see. you could take a look at the products that apple has put out over the past few years as you've seen the stock do this amazing run since the iphone, this would be another product on that line-up so a question, will this be like another mac mini which close less than the mainstream imac but helped to bolster apple's overall product line or the ipo
, of the theater where the product is going to be unveiled. our jon fortt is inside the event. brian sullivan is outside. he will give us live updates as the details are unveiled. >> a lot of tension down here, you can't afford to go anywhere this hour, with the dow and s & p at the lowest level necessary seven weeks, statistics for you. the markets dropped, the dow had the biggest point drop in the 1 p.m. hour. fry davis the same story, the dow had its biggest point drop after the open. also in the 1 p.m. hour. falling 36 points. yesterday again, the dow dropping almost 40 points in our 1 p.m. hour. on aggregate, the three-day net change, the dow lost almost 100 points during this 1 p.m. hour period. all right trend continue today? well, right nows, down 223 points on the dow jones industrial average, 13,122.46. full team coverage of the selloff with bob pisani here at the nyse. seema mody at the nasdaq, sharon epperson following oil gold and rick santelli off camera now, looking at the breaking news any moment from the bond pits. we begin with bob. we have had technical damage to the mark t
on "power lunch." jon fortt and brian sullivan will be all over it for us tomorrow all day on cnbc. >>> indeed, ty. another tech giant in the news today is yahoo!. right now down just a fraction at 15.75. it reports earnings after the bell. julia boorstin will get us ahead of the numbers. what can investors expect this time around? >> reporter: well, sue, investors expect marissa myer to lay out her plan to turn the company around and help it transition to a more mobile future. yahoo!'s expected to report earnings per share of 25 cents, up 11% from a year ago on 1% higher revenue. the big question is how display ads, which is yahoo!'s biggest business, at 40% of its revenue are impacted by the shrift to mobile where yahoo! has a relatively small presence. we'll be watching that cost-per-click metric which declined at google. yahoo!'s second biggest business is its search business. that's about one-third of the company's revenue. it will also be in focus. it continues to lose market share with just 12.2% of search in september. we'll see what myer has planned to build yahoo!'s mobil
governor of this state, jon corzine and the quarterback of the new york giants, eli manning, they lived there. on a good day, this is five minutes from manhattan. this is not one of the good days. >>> mass transit still pretty much paralyzed in the new york area. looking at video now of the south ferry station. that is not far from wall street. if you've been down in to the toe of manhattan there, you've probably ridden on that line to go to the new york stock exchange. new york governor mario cuomo said a few moments ago that -- andrew cuomo -- excuse me -- that there will be limited subway service tomorrow. we hope to get more information on that from mayor bloomberg in about 30 minutes' time. amtrak is now running service from newark to points south, but not in to new york city or northbound from new york city. problems still with some of the tunnels and the electrical service in -- on those lines. limited train service going to restart tomorrow for the long island railroad and metro north, which runs in to the northern new york city suburbs. >>> tyler, down here at the floor of the
of it is this dollar issue. >> maybe jon fortt knows. wait a minute, he joins us from palo alto with more on yesterday's snafu. >> which you're not supposed to use. >> situation normally all fouled up. >> it used to be at wall street we weren't allowed to use snafu. >> it's fouled up, stuff we don't get. >> i think i am in san jose. i was in chicago a few hours ago i'm not completely sure but yes lots of explaining to do on multiple fronts based on what happened yesterday. our ceo telling "the journal" this was human error, for them that's a lot better than a systems problem since they handle so many sec documents for so many different companies. google getting on the call explaining just what this quarter was about from their perspective, and andrew you touched on a few of these things, mobile a big issue in terms of cost per click. they trotted out the number an $8 billion annual run rate for mobile, shows that global is growing, it just has some impact on the money they're making off of advertising clicks and also touting youtube growth in the quarter, so we got an interesting situation now analyst
as a result. would you consider it? >> this is incredible. jon corzine, i know a whole new series of things, fixed income was making so much fun. corzine was going to get jobs. this was one of the great businesses. it's terrible. >> today or yesterday anniversary of mf if i'm not mistaken. >> i think you're right. another impact to this is liquidity within the bond market itself particularly in high yield but in all corporates. used to be you could get a big on a big one. you want a bb bid on 60 million, you'll get bid five, ten points down. lack of liquidity because so many institutions have pulled back from the market to a certain extent is stunning. one wonders whether hedge funds won't move in there. a market reaction to a significant change in the financial services business. >> we have been waiting for blinking. we've been waiting for consolidation. waiting for people to pull business lines. it's happening. listen investment bankers and companies, it's a way to get your stock up. >> one wonders. ubs had its own issues when it comes to investment bank. could be seen as a different stor
. is that based on you? you're much better looking and that guy. >> joe, if i was better looking than jon hamm, i'd be in your seat. >> very subjective. and to me, you are. >> that's why we have this mutual admiration society. but it is an unbelievably good show and sort of a reflection of what advertising was like in the 60s and 70s. >> but it also is a reflection of how we -- the shows that i am absolutely addicted to, i watch when i want. boardwalk empire or homeland or -- >> if you watch the newsroom or suits, they are great. those two are superb. >> and that's what worries me because these are nudity and language and all that, and i'm wonder can go a network compete. but maybe this revolution is -- i grot ot to check it out. >> one of the things we talked about last time, growth of mobile. mobile is the big talking conversation. >> you can figure out how to advertise on mobile? >> i think that technology is being developed. and think you will see that. but that is the big thing that either media companies, technology companies have advertiser and agencies working on, how to use pdfs, how to
. >> reporter: you've always got to get it right. john, i want you to stay there. i'm like jon stewart on "the daily show." we're going to send this to the web, but we're tight on time, so melissa, i'm going to send it back to you. >>> how do you fire up the wall street bull? cramer has a plan for a higher stock market. you'll want to hear it. >>> also, arne sorenson, stay tuned for an interview with him. >>> these markets can be just as unpredictable as the weather. so this month, don't get caught in the rain without being prepared. and one way to do that? carry an umbrella. now is your chance to win a stylish cnbc one. signed by the "squawk on the street" gang. if you can guess friday's nonforeign jobs number, it's all yours. tweet your guess to our new twitter handle, @squawkstreet and don't forget the hash tag #nailthenumber. for all the rules, go to you have until 8:29 this friday morning. good luck. at optionsxpress we're all about options trading. we create easy-to-use, powerful trading tools for all. look at these streaming charts! they're totally customizable and they l
a restaurant, jon corzine was there, page six reported corzine was found having dinner where you can get an $85 bowl of spaghetti. trying to invest in this environment, guess where the dinner is? tonight, el molino. >> let me know how it goes. >> if rick wants to fly in, rick and i will go together. >> and really quickly, for those who aren't aware, pick toggle is a term we used to hear all the tile. what does it mean? >> it means i'm going to make it simplistic, you as the bond buyer are taking on significant risk for very little reward. that's all you need to know. it's the bottom of the ninth and there's two outs in the junk market. >> like seeing an old friend when i got that e-mail this morning too. incredible. thanks, gary. we'll see you in a little bit. rick santelli, i know you were listening to gary just now. >> i was, i was. and when he was talking about liquid assets, anyway that he the mf guys and the pft guys have consumed lots of liquid assets trying to forget how ripped off they were. still having wining and dining of their own. but today we're going to talk about the devolving o
Search Results 0 to 23 of about 24